January 8, 2007
Press Release 07-01

HuntMountain Signs Letter of Intent to Acquire Argentina Gold Property

(Spokane, WA) HuntMountain Resources (OTCBB: HNTM) is pleased to start off the new year by announcing that it has signed a Letter of Intent with FK Minera S.A. to acquire a 100% interest in the Bajo Pobré gold property located in Santa Cruz Province, Argentina.

The Bajo Pobré gold occurrence is located in the prolific Deseado Massif region of Santa Cruz Province, Argentina.  The property was discovered in 1970 and has been worked intermittently by several government entities and private companies.  Serious exploration began in the 1990’s with geologic mapping and surface sampling.  This work delineated a large gold-bearing, epithermal system where outcrop samples assayed up to 40 grams of gold per ton.  The mineralized system is comprised of numerous zones of quartz veining, vein breccias, and stock works with a cumulative strike length of more than 9 kilometers. Individual veins range from 0.5 meters to 6 meters in width.  Drill targets identified from surface sampling were augmented in 2002 with additional targets derived from a geophysical survey.  In 2003 and 2004, the property saw a limited amount of exploration drilling which tested a small portion of these targets. 

Matt Hughes, Vice President of Exploration, stated “I’ve worked in Santa Cruz a long time, and Bajo Pobré has one of the strongest and largest zones of alteration that I’ve seen to date.  It’s been my experience in Santa Cruz that all other systems of this size host important precious metal deposits.  I’m confident that Bajo Pobré will be no exception.  We are excited to put an aggressive exploration plan into motion.”

Upon completion of the final agreement for the acquisition of Bajo Pobré, HuntMountain, through its wholly-owned subsidiary, Cerro Cazador S.A., will add approximately 120 square kilometers to its current property position.  Cerro Cazador already controls four mineral concessions totaling 400 square kilometers in Santa Cruz, including the El Gateado property which is presently undergoing initial exploration drilling.

HuntMountain Resources is a U.S.-based junior exploration company engaged in acquiring, exploring and developing precious metal properties throughout North and South America.  The Company is currently exploring prospective gold properties in Nevada, Québec, and Santa Cruz Province, Argentina.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.

FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan Smith, Investor Relations Manager
HuntMountain Resources
(509) 892-5287
jsmith@huntmountain.com
www.huntmountain.com